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#2318 - 06/13/01 01:51 PM POS Holds and NSF Fees
Anonymous
Unregistered

Other than limited by the terms of a deposit contract which will vary from bank to bank, does anyone know a reason why a bank could not return checks and charge NSF fees when the cause of the insufficient balance is due to POS temporary holds placed based on on-line authorizations?

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#2319 - 06/13/01 05:57 PM Re: POS Holds and NSF Fees
Lucy Griffin Offline

Diamond Poster
Lucy Griffin
Joined: Nov 2000
Posts: 1,544
There are some states that have laws on payment order. Other than that, the federal regulations wouldn't interfere. The primary law is the U.C.C. and that is state law.

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